PERDOCEO EDUCATION Corp Q3 FY2025 earnings call

• Third quarter operating performance exceeded expectations with net income of $39.9 million or $0.60 per diluted share, and adjusted earnings per diluted share of $0.65.
• Total student enrollments grew 15.1% versus prior year quarter, with CTU up 6.7% (8 consecutive quarters of growth), AIU System down 2.9% but expected to end year with double-digit growth, and St. Augustine fall term new enrollments higher.
• Continued investment in student technology and support processes, use of AI in marketing to engage prospective students.
• Repurchased $20.6 million worth of shares under $75 million repurchase authorization, with $94.1 million returned to shareholders in first 3 quarters of 2025.

For the third quarter:

• CTU: Revenue was $117.1 million, 4.3% higher than prior year quarter; operating income increased 6.7% to $47.8 million. Revenue contribution not explicitly stated as a percentage but was a significant portion.
• AIU System: Revenue remained relatively flat at $56.7 million; operating income increased versus prior year quarter mainly due to lower operating expenses.
• St. Augustine: Third quarter revenue was $38 million; adjusted operating income (excluding depreciation and amortization) was $7.2 million.
• Corporate and Other: Operating losses decreased to $6.1 million from $8.5 million in the prior year quarter.

• Revised full year adjusted operating income outlook: $234 million to $236 million (vs $188.9 million in 2024).
• Adjusted earnings per diluted share expected: $2.54 to $2.56 (vs $2.26 in 2024).
• Fourth quarter adjusted operating income expected: $47.9 million to $49.9 million; adjusted EPS: $0.53 to $0.55.

• Risks include factors identified in Perdoceo's most recent annual report on Form 10-K and subsequent SEC filings, which could cause actual future results to differ materially from forward-looking statements.